Volkswagen investors file $3.61 billion lawsuit in Germany

Around 300 institutional investors lodged a multi-billion euro lawsuit versus Volkswagen in Germany, saying the automaker violated its capital markets responsibility in the emissions scandal. The €3.256 billion ($3.61 billion) suit was submitted at a regional court in Braunschweig, which is filed by 278 investors worldwide, including CALPERS. TISAB, a law firm representing the institutional investors, said the lawsuit seeks to find out whether the carmaker failed to fulfill its job to the capital markets about the timetable between June 2008 and September 2015. A VW spokesperson could not provide a comment as the company had not seen the case.

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